RIO DE JANEIRO (AP) — A temporary injunction freezing a joint venture between airplane manufacturers Boeing and Embraer has been overruled by a Brazilian justice.
The ruling was made Saturday morning by Federal Court President Therezinha Cazerta, who said that the matter is outside the court’s purview.
The $5.26 billion venture was stalled by a similar court procedure earlier in the month.
Advertisement - story continues below
Labor unions say that it’s actually a sale and will move most of the business to the U.S.
Under the current terms, Boeing is to receive 80 percent of the venture and Embraer the remaining 20 percent. The subsidiary is expected to take on all of Embraer’s commercial aviation activities.
The agreement between the two companies is championed by Embraer as necessary to keep the company competitive.
The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.
We are committed to truth and accuracy in all of our journalism. Read our editorial standards.